6400 N Glenwood Ave 39 Unit Apartment Building Offered at $6,350,000 at a 5.67% Cap Rate Chicago, IL 60626

Kiser Group has been exclusively engaged to market for sale 6400-08 N. Glenwood, a 39-unit mixed-use property in Chicago's Rogers Park neighborhood. This 1920s constructed asset is well-situated for Loyola University students as it's just 0.3 miles to Loyola's campus, 0.5 miles to the Loyola Red Line CTA station, and 0.6 miles to Lake Michigan.
The building features a unit mix comprised of two (2) 1 bed / 1 bath units, six (6) large studios, and twenty-six (26) regular studio apartments. Units offer abundant natural light, hardwood floors, and updated kitchens with stainless steel appliances and granite countertops. Also, five (5) retail tenants occupy storefront spaces totaling ~6,650 square feet. Common amenities include a laundry room and the potential to convert the back patio to outdoor space or additional parking. Current apartment rents are ~17% below market, with upside for new ownership.
As this 39-unit asset is set up just 0.3 miles from Loyola University, new ownership is guaranteed a historical property in a location that will always be sought after. This acquisition provides consistent demand from students and hedges against a continuously changing market.